- Broadens Magna’s active safety portfolio
- Strengthens Magna’s global position as a top active safety supplier
- Increases scale of sensor, software and systems engineering capabilities
Projected to generate more than
“Adding experienced talent and complementary capabilities to our strong foundation in active safety is core to our strategy of bringing more horsepower to this growing market,” said Magna CEO
Our electronics team, now with more than 7,200 employees, including 3,500 in engineering, can better accelerate the development of premium features and functions at scale. Magna will also benefit from an expanded geographic footprint and customer reach in key automotive regions around the world with nine facilities and 30 engineering/sales locations dedicated to active safety.
“On behalf of Magna, I want to welcome the Veoneer Active Safety team,” Kotagiri added. “We have been preparing and eagerly waiting for this day to come.”
INVESTOR CONTACT
louis.tonelli@magna.com, 905-726-7035
MEDIA CONTACT
tracy.fuerst@magna.com, 248-761-7004
ABOUT MAGNA
Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of over 171,000 employees and an organizational structure designed to innovate like a startup. With 65+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 341 manufacturing operations and 88 product development, engineering and sales centres spanning 29 countries.
For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social.
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